I couldn’t believe this news when I heard it first time but I had to. That would be the biggest news we’ve heard since a while ago: The popular iPhone hacker, P0sixninja, has announced that they discovered five userland exploits for both the iPad 2 and iPhone 5.

The news comes from MyGreatFest when the Chornic Dev Team (@p0sixninja and @iOPK) were on the stage. P0sixninja at first gave a nod of the head to @comex, who is popular for his tool known as JailbreakMe.

P0sixninja notes that the Chronic Dev Team will strive to release an iPhone 5 jailbreak solution once it’s released. The next greenpois0n version will be a userland jailbreak just the same as JailbreakMe.

In case you don’t know, userland jailbreaks are related to software. In other words you can jailbreak the firmware directly from your iOS device and Apple can patch these exploits in next firmware releases. The hardware-based exploits are those which like Limera1n exploit found by Geohot which jailbreaks your device forever.

P0sixninja said that the the next jailbreak will be the most amazing jailbreak yet. So yes, the iPhone 5 will be jailbreakable only few days after its launch. The team is also seeking for talented people who can join the team to continue jailbreaking iOS devices.

The jailbreak will of course work on iPad 2 and iPhone 5 running iOS 5.

The Chronic Dev Team said that they need the new iPhone 5 to see which exploit will work on it from those five discovered exploits:

The team is as ready as it can be for the iPhone 5 jailbreak, without having the actual handset. Once the iPhone 5 is available, the Chronic Dev Team will be working hard to find a jailbreak solution, and release it to the public.

Saurik will be on the stage later today at MyGreatFest, so stay tuned for more jailbreak news to come!